Once the time is right, with enough research, I would jump into a market (hopefully local if affordable) and get started.

A good manager will handle everything from marketing to maintenance and tenant screening, saving you time and stress.Vendors and LandscapingBuilding a team of dependable vendors—like landscaping companies, contractors, and insurance agents—is critical.

I use Beyond pricing in my vacation rental markets and Pricelabs in my city/mid-term rental markets.

With that, if I were the seller, I'd ask for a little more than the current market value of the land.

Use tools like AirDNA or Mashvisor to provide market data on projected rental income and occupancy rates, and make sure your lender works with appraisers familiar with short-term rentals.

Wichita is a good market.

They can offer valuable insights into the local market, potential rental yields, and specific considerations for a rehab project like the one you're planning.

The impact of job growth in the market is something I always look at because of this 1 job is not just one job.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Absolutely, the passive income from owning rentals is great but I also love getting into big projects and seeing the transformation from start to finish@David Jesperson What city/market are you looking to buy and what type of properties are you looking for, SF, 2-4 MF, or 5+ MF?